Topic: 🔶 YOLOdice.com 🔶 suspended on 16st Mar 2021 (Read 143533 times)

Today I have suspended YOLOdice. And once again I'd like to thank YOU - the players, investors, supporters, moderators... just everyone who made this project possible. It was fun running the site, really, but as I mentioned multiple times, we really need a break and a fresh perspective to maybe come back with something new, better suited to the ever-evolving landscape of the crypto currencies world.

Thanks and cheers!
Ethan

That is not what this is about, making money or not I can't say how much Ethan and Scott has, maybe they have a lot maybe they don't, but finding even 100+ staff is not the deal here. I think they have mentioned previously that we are talking about a huge number of new people coming in but also the bitcoin price is going up as well, which means they are making more money than they used to but still stopped.

The reason is the fact that the money they have right now became too valuable, and they just didn't want to get that type of problem in their hands, after all we are talking about god knows how many millions of dollars that they are holding on behalf of gamblers, it is not theirs neither, it is customer's money and they are taking the full responsibility for it. I think they just decided not to handle any more of that, who needs that extra pressure in life.

I have been an investor in 3 sites, 2 now closed down so only left at 1, and I have always been open about it,,, you can and maybe very possibly will lose it if the site gets hacked but I have been very lucky/fortunate or whatever you want to call it that I chose people who ran the business well, including Yolodice of course, that the unwanted never happened.

I think gambling investments can be very profitable. I lost some and won some, but over since 2017 I actually more than 4x my investment in DOGE and 2x in LTC, so with the markets going ATH it was very very good returns. But as ethan says,,, there must be a safer way, perhaps to use the DEFI stuff as mentioned earlier by someone else and use non-custody contributions to bankroll but keeping the dice elements and centralized structure of chat, moderating, contests etc.

The recipe was popular, and many defi gaming shows that no-trust systems can work. But they cannot get as much loyalty as centralized sites.

Thank you ethan_nx, now i'm not curious again about whose the owner of those investment.

No worries, but i said that because i was reffering to this

I may not agree to what you have said mate, Ethan and Scott have more ways if maintaining the site by hiring good and intelligent workers across every problems, a competent and due diligent developer will be handling yolodice while ethan and Scott go to bed to sleep while the site is running smoothly, to me the reason they stop operating is because, so many competitive cryptocurrency gambling platforms are emerging rapidly in the space with new gambling features far more better than yolo interface, there affecting customers from patronising them, on that note, yolo have to shutdown and maybe will sit back and rethink new features and strategies to come out with.

All the ETH bankroll was owned by me and Scott. The number of investments was just a way how we have split the coins, it was not 4 all the time.

Seen couple of other Crypto Gambling sites getting closed by the owners. Seems like profits is not everything. People have life which they need to enjoy.

Good luck guys.

I assume it is related to Ethan + Scott + 2 other accounts hold by admins or temporary opened by a mod.

@ethan_nx, talking about being an investor in gambling site, whom actually owned "4 investment" ETH on Yolodice before since it doesn't public? We like to know because Yolodice alraedy closed right now

I know my opinion will not be very popular (or at least controversial), but honestly after 4 years of being on "the other side" of the gambling site, I will probably never again deposit any coins to a 3rd party site a for long-term investment. We worked hard to take proper care of the deposited coins and (thankfully!!!) nothing bad happened, but there are always some risks involved. If a site gets hacked (which does happen), what's the site policy? Will the owners cover the loss with their own funds? There is always a non-zero probability that things will go wrong and investors lose their coins.

If you compare the expected ROI due to coins/USD changes, possibly boosted by staking using a trustless protocol like Cardano or Polkadot (extra 10% a year) to the expected revenue from a gambling site, and then take into account a non-zero probability of actually losing your coins, I don't see much point in trusting coins to another site. Unless you do it for the pure fun, or you have other reasons to do so. Even when diversifying your portfolio it looks much safer today to simply invest in a bunch of coins, stake them and always have your private keys to spend them.

I don't want to undermine online gambling. I think it's really fun, both being an investor or player. There is a bit of adrenaline in both and it's hard to find a replacement for that. Watching Coinmarketcap or Kraken charts is not a substitute for a cool community chat, watching someone win or lose in a big way, or even being a part of the project that just give you this comfy feeling that you belong there.

It's all very important and that's what I really liked in YOLOdice. The community, the the fun, the chat, the adrenaline... But even though, I think investing in gambling site might not be the greatest idea in terms of expected ROI.

Cheers,
Ethan

I do not agree with this. People can talk whatever they want as long as OP allows it, and Ethan doesn't seem to mind it neither, he even contributes to it as well, so we can easily say that he is fine with it. Sure yolodice could be closing down, but nobody from yolodice would mind people talking about other places to invest as an alternative to yolodice, considering how yolodice is closing people do need an alternative and that's what people are talking about here.

My suggestion would be bustadice, it is managed by another very respectable member of the crypto community devans, and rhavar is always around and gives his opinions, it was his website but he sold it to devans, which is why rhavar is more available there than any other place, plus it is usually a very profitable place to invest as well, hence I think it could be a good alternative to anyone looking for it.

yeah those off topic must be tackled in their Own thread because this is a no respect to the Yolodice team and company .
but anyway there are only few days left and this thread will be totally locked up , let those spammers do their tactics this will end soon.
I'm sure people was just grabbing their opportunity to lure investors as Yolodice regular/loyal supporters are now left in the air looking for when to invest .

Move your general discussion about gambling, investing or even lending on other thread. This thread isn't appropriate to disscuss about these things. This is Yolodice thread, and today is March 11st, which there are only 4 days left for Yolodice before it really shutdown/closed.

Maybe it could also be an idea not to gamble at all and just save the funds? you can also place bets on a match with odds from 1.01 and then built up your stake on sport matches.

More longer you wait then there are chances for you to make more profits because house always win in long term but in crypto everyone wants to become rich very quickly for such kind of people casino bankroll investments are not the best choice.

On long run bankroll investment must be profitable, otherwise the casino doesn't have a house edge, furthermore is going bankrupt, or it's scamming the investors somehow. What you can't expect from this kind of investment are fast returns, but if you are patient the profit will come after some time, even if the gamblers playing on that house are very lucky.

Adding more games is not as difficult as one might imagine, I have worked for a casino before (non-developer position) and I have seen how developers work as well, they do work behind the scenes a lot but when everything is said and done and the games are released, there is very minimum work to be done from the developer side, sure it creates more gamblers and more issues for support (that I had to deal with) but developer side doesn't release a game until they are 99% sure there is no problem, there is always a 1% chance of something wrong because there are idiots who try to gamble from a 1999 computer for hobby or whatever that we can't find replica and test so they may find some issues, but once it is released rest is easy.

Hence, if you are a dice website, adding more games would take maybe 6 months to develop but then rest is easy. However managing a casino is hard, could be just dice or could be 20 games, it is hard all the same.

I wouldn't do that if those are your suggestions. Although it's an additional source if investors want to do it but I just won't do it.
Yes, most hackers eyes now are in exchanges.

These two sites are profitable but you can never consider that investing on bankroll of a casino is always going to be profitable, because it depends on the luck of the gamblers, more they loss then investors will make more but consider the trustworthiness I can also stand with your statement.

Lending and staking is not similar to bankroll investment which is more risky because exchanges are risk of getting hacked at any time.

Actually it never was cryptogames.net ... the correct (old) domain was crypto-games.net.
And yes, investing is not available for a long time.
IMO the only remaining (trustworthy) casinos to invest in bankroll are bitvest and bustadice.

As a sidenote for those searching where to put their excesive funds I suggest to check major exchanges and their lending/staking offers.
Binance and kraken offers saving accounts with small daily interest rates.
Bitfinex, poloniex and kucoin allows also lending your funds to other traders.